Former Goldman CEO Lloyd Blankfein Says “Crypto Is Ongoing” Despite Falling Digital Assets

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Lloyd Blankfein, Chairman and CEO of Goldman Sachs Group

Michael Nagle | Bloomberg | Getty Images

Former Goldman Sachs CEO and Chairman Lloyd Blankfein said his view of cryptocurrencies was changing after digital assets attracted trillions of dollars in value and a rapidly growing ecosystem.

On Monday, CNBC’s Andrew Ross Sorkin asked Blankfein about his views on cryptocurrencies, noting that the former banker had expressed skepticism in the past.

“Listen, my view of the situation is changing,” Blankfein said. “I can’t predict the future, but I think it’s important to be able to predict the present, like, ‘What’s going on?’ And I look at crypto, and it’s happening.”

By “happen,” Blankfein means the ecosystem around cryptocurrencies has matured over the past year, he explained. Cryptocurrencies have been selling off for weeks as expectations of higher interest rates hit riskier assets.

“It’s lost a lot of value, but to a point where billions of dollars of value are contributing to it and the whole ecosystem is growing around it,” he said. “Of course we have the benefits of instant transfer and reduced credit risk and all the benefits of blockchain.”

“I may be skeptical, but I’m also pragmatic about it,” Blankfein said. “So guess what? I sure wish I had an oar in this water.”

This story is developing. Please check for updates.

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